Chevrolet Corvette Insurance Rates

Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

U.S. average insurance rates for a Chevrolet Corvette are $1,790 a year for full coverage. Comprehensive insurance costs approximately $494, collision insurance costs $922, and liability is estimated at $264. Liability-only coverage costs approximately $312 a year, and high-risk coverage costs $3,870 or more. Teen drivers pay the highest rates at up to $6,090 a year.

Average premium for full coverage: $1,790

Price estimates by individual coverage:

Rates are based on $500 policy deductibles, 30/60 bodily injury liability limits, and includes both medical and UM/UIM coverage. Estimates are averaged for all states and for different Corvette trim levels.

Price Range from Low to High

Geographic Price Range

Living in a larger city can have significant affects on car insurance rates. Rural locations have a lower frequency of accident claims than larger metro areas. The price range example below illustrates how where you live affects auto insurance prices.

The ranges above show why anyone shopping for car insurance should get quotes using their specific location and risk profile, instead of using price averages.

Use the form below to get customized rates for your location.

Rate Comparisons

The chart below shows average Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The lowest rate with discounts is $977
• Choosing higher $1,000 deductibles can save $320 a year
• The average rate for the average middle-age driver who chooses $500 deductibles is $1,790
• Choosing more expensive low deductibles for comp and collision coverage will cost an extra $628 every year
• Unlucky drivers with multiple violations and an at-fault accident could pay around $3,870
• The price for full coverage for a teen driver with full coverage can cost $6,090 each year

View Chart as Image

Auto insurance prices for a Chevrolet Corvette are also quite variable based on your driving record, the trim level of your Corvette, and physical damage deductibles and liability limits.

An older driver with a good driving record and high deductibles may pay as little as $1,600 annually on average for full coverage. Prices are highest for teenage drivers, where even good drivers will have to pay in the ballpark of $6,000 a year. View Rates by Age

The state you live in plays a big part in determining prices for Chevrolet Corvette insurance prices. A good driver about age 40 could pay as low as $1,180 a year in states like Iowa, Maine, and Idaho, or as much as $2,550 on average in New York, Louisiana, and Michigan.

View Chart as Image

Choosing high deductibles can save as much as $950 every year, while increasing your policy's liability limits will push prices upward. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $237 extra every year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you could be paying anywhere from $2,100 to $2,800 in extra premium each year, depending on your age. High-risk driver insurance ranges as much as 46% to 132% more than average. View High Risk Driver Rates

Insurance Rates by Trim Level and Model Year

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Find the Best Cheap Chevrolet Corvette Insurance

Getting lower rates on car insurance takes avoiding accidents and claims, having good credit, eliminating unnecessary coverage, and possibly higher deductibles. Take the time to comparison shop at every other renewal by getting rate quotes from direct carriers like Progressive and GEICO, and also from local exclusive and independent agents.

The points below are a quick review of the concepts that were touched on in the above illustrations.

• Higher risk drivers with a DUI or reckless driving violation may pay on average $2,080 more per year to insure a Chevrolet Corvette
• Drivers under the age of 20 have the highest car insurance prices, with premiums as much as $508 a month if they have full coverage
• Drivers can save around $230 per year just by shopping early and online
• Increasing physical damage deductibles can save around $950 each year
• Drivers can save around $230 per year just by shopping early and online

How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.

The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.

It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.

Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.

What are the safety ratings of the Chevrolet Corvette?

Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.

However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.

How does the Chevrolet Corvette compare against other vehicles in the same class?

The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.

The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.

If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.

• Ford Mustang GT Insurance Rates
• Mercedes-Benz SL Class Insurance Rates
• Nissan 370Z Insurance Rates

Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.

References

1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model